(Sort of) Breaking: Dallas Fugitive Josh Lankford Found in Costa Rica

Some Frontburnervians have probably been around here enough to remember discussions about Dallas businessman/stock broker Josh Lankford – a pretty decent rundown of links is here. And, full disclosure, I did work for him for a time.

Lankford has been on the lam for several years after being accused of helping run a few pump-and-dump scams. He’s into the SEC now for more than $94 million in penalties.

Well, just as quietly (presumably, since I wasn’t there) as he left, he was apprehended, apparently. Came across a Financial Times story from last week that was actually about federal whistleblowers. Read the entire damned story before I saw a name that I instantly recognized – Josh Lankford, my old boss.

The story, which you have to register to see (it’s free, but unless you really like reading Financial Times, probably a hassle), seemed like just this random story about snitches until the last few paragraphs, which quote Jordan Thomas, a former SEC attorney who helped create the whistleblower rules the agency now uses.

Thomas says one of his clients tipped the Feds off to “surveillance photos and satellite coordinates of the home and office of Joshua Lankford, a U.S. businessman charged criminally in 2009 with two others for allegedly stealing $20m from investors in a pump and dump scheme. Mr. Lankford,” the article continues, “was arrested in Costa Rica in September. The U.S. is seeking extradition. People familiar with the case say the FBI located Mr. Lankford independently from the whistleblower tip.”

I’m unclear about a few things. Are you insinuating that you just happened to stumble across his name in an obscure article on a Web site that has limited readership in the U.S.? Or are you actively monitoring news about Mr. Lankford? There’s nothing wrong with the latter, especially if you aspire to write stories for a living, but your description was unclear.

Was it? I think I said I was reading the story and saw the end and was surprised. I have been reading the Financial Times for a few years now, mostly because I still like to keep tabs on some of the “businesses” and players I covered when I wrote about the penny stock market.

Since the Pink Sheets, Gray Sheets and even the OTC:BB are still largely unregulated, I like to keep my finger on it. I’m nerdy that way.

This story gets curious-er and curious-er. What I’d like to know is who helped Josh-y boy escape to his vacation in Costa Rica? Which actors in this saga knew his whereabouts but did not tell authorities? His family? His poor ex-wife? His (ex?) va-va-voom Dallas-area girlfriend ? His ex-business associates?

Get your popcorn ready. This is a story tailor made for a D Magazine cover unless they let it languish until Langford’s trial date. IJS.